<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
<head>
<script type="text/javascript">
function removeOption()
{
var x=document.getElementById("mySelect");
x.options.add(x.Value);
}
</script>
</head>
<body>

<form>
<select id="mySelect">
  <option>Apple</option>
  <option>Pear</option>
  <option>Banana</option>
  <option>Orange</option>
</select>
<input type="button" onclick="removeOption()" value="Remove selected option">
</form>

</body>
</html>